Defiance Daily Target 2x Long NVO ETF (NVOX) — Stock Correlations & Overview
Over the past year, NVOX has moved most closely with NVO, NVOH, EDEN. Explore the stocks most correlated and inversely correlated with NVOX below, along with its price, financials, and company profile.
Stocks correlated with NVOX
Correlation of daily returns. Higher positive values move with NVOX; negative values move opposite it. Informational only, not investment advice.
Most correlated with NVOX
| Symbol | Company | Correlation |
|---|---|---|
| NVO | Novo-Nordisk A/S | 1.00 |
| NVOH | Novo Nordisk A/S (B Shares) ADRhedged | 0.98 |
| EDEN | iShares MSCI Denmark ETF | 0.76 |
| OZEM | Roundhill GLP-1 & Weight Loss ETF | 0.61 |
| THNR | Amplify Weight Loss Drug & Treatment ETF | 0.56 |
Most inversely correlated with NVOX
| Symbol | Company | Correlation |
|---|---|---|
| FIAT | YieldMax Short COIN Option Income Strategy ETF | -0.36 |
| SKF | ProShares UltraShort Financials | -0.36 |
| FAZ | Direxion Daily Financial Bear 3x ETF | -0.36 |
| SEF | ProShares Short Financials | -0.36 |
| CONI | GraniteShares ETF Trust GraniteShares 2x Short COIN Daily ETF | -0.35 |
Frequently asked questions about NVOX correlations
- Which stocks are most correlated with NVOX?
- Based on one year of daily returns, the stocks most correlated with Defiance Daily Target 2x Long NVO ETF (NVOX) are NVO (1.00), NVOH (0.98) and EDEN (0.76). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NVOX?
- Over the past year, the stocks most inversely correlated with Defiance Daily Target 2x Long NVO ETF (NVOX) are FIAT (-0.36), SKF (-0.36) and FAZ (-0.36). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NVOX correlations calculated?
- We compute the correlation of daily returns between NVOX and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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